That way one can be at the laundry, one on the beds, and a backup in the house just in case for the guest.

Hi everyone,My name is Justin Swaby, and my partner and I are currently building a real estate portfolio consisting of single-family and multi-family properties.

Once a taxpayer meets the REP status, do they need to materially participate in each property?

The property is just in mid-construction, not inhabitable and we've had a really hard time finding a way out.

But you should consult with your tax advisor on that piece.You do not need to be a realtor to qualify for real estate professional status (REPS). 

I was told from a rep that if I could get someone to sign a lease agreement for about $3,200 - $3,600 per unit, I would qualify. 

An idea we have is, I am burnt out from W2 life, and wife makes great money (+$300k) , and I could take the year to repair/renovate, manage, rent, repeat the units in the MF qualifying for REPS status (50%, 750hrs, material participation, etc). 

However you are not getting REPS because of STR.

--I closed all my tax and insurance escrow accounts, because the money is better off lowering my daily balance and interest and will pay those just in time.

Also, this isn't just in Texas with them only knowing a small market in Texas... you have ladies all over the Country and I can't tell you how great that is for wholesale deals as well as short term rentals.